BBD ==> The Ides of March Winner

[Runner]

Hear is another look into the trend for BBD. It currently has a major trend that started back in Jan 05. Current price for major trend is 23.70 this trend accelerated back in July o5 and current support of this trend is 34.35. BBD accelerates again back in Dec 05 and has been breached recently. Trend line readjusted shows price sitting right on current line. If this area is breached next stop could be last swing low around 36.51. This week should be interesting for BBD and at this juncture I have not a clue where it goes. I’ll also mention the daily chart does have a S/H/S look to it..

Bulls need to step up to the plate on this one!

[Rob]

Had To Stem The Flow

BBD is getting hit with the sledge again this morning. Another 75 cent drop.

Indeed it is. Unfortunately I had to cut 'er loose with a 7¼% loss on this one. I might pick up TS or I might just sit on my hands a while.

Update: Thought about it, looked at it, thought about it some more, decided to buy TS. In at 182.10. And now I see that BBD is making a bit of a comeback ... oh well. I've never been accused of having perfect timing.

[New-born baby]

Ts

Indeed it is. Unfortunately I had to cut 'er loose with a 7¼% loss on this one. I might pick up TS or I might just sit on my hands a while.

Update: Thought about it, looked at it, thought about it some more, decided to buy TS. In at 182.10. And now I see that BBD is making a bit of a comeback ... oh well. I've never been accused of having perfect timing.

TS has a rich option chain. No need to take any loss on this one. And I don't like to buy stocks that do not have an option chain. BBD apparently, is getting hit by the interest rate bug. I have no other explanation.

Support for BBD MAY be the neckline at $37. If someone entered there, put a stop under it. Otherwise the head and shoulders formation comes into play, and BBD might just as well merge with OFG.

[schutz]

Bbd

Does MrMarket ever have any comments on his picks?

[Gatorman]

Does MrMarket ever have any comments on his picks?

Yes, he often does.
For example: he commented 81 times how good it felt to have sold his pick for at least a 15% profit!

[New-born baby]

Busted

Not one, but two channel busts in the last three weeks. Today's price action on BBD busted a second Raff's Regression channel just over a week after BBD suffered a momo slowdown and channel bust on the weekly.

Two charts to view it:
1. Here's the first channel bust from three weeks ago. Note the price action
dropped beneath the trend.


2. Today's action produced another channel bust. Bearish price action to say the least.


So where does BBD stop and turn around? Who knows for sure?
BUT, we have these facts to consider.
1. The channels point right at the next resistance point: $35. Unfortunately, that resistance point is very weak in price by volume.
2. A 50% retrace takes us all the way down to $33.16.
3. IF****IF****BBD busts the neck on the head and shoulders, then we have a definate price target of --are you sitting down?--$28 minus.
4. IF***IF***BBD retraces according to the golden rule (i.e. a 61.8% retrace), then we are looking at a Fib number of $30.65.
5. All the STOs insist that "this isn't the bottom yet."
6. BUT BBD sported a flashy doji today. Dojis in and of themselves are not reliable reversal signals. They need confirmation by the next day's price action. It is possible BBD could reverse as early as tomorrow.

In summary: I think tomorrow tells the tale. A strong volume push higher tomorrow would be the signal to enter. More likely, in my view, BBD takes another dump after Bernard speaks, and then BBD becomes meat for the shorters. Targets would be $35, $33.16,$30 and $28.

[An2n33]

I know you guys all looking at charts and trends. But i think this drop has to do with Brazil's finance guy quitting because of scandal. And I think he was the one that came up with higher interest rates in banks to control their nation debts. Anyway, this stock should go up as soon as that matter is resolved.

[mrmarket]

I know you guys all looking at charts and trends. But i think this drop has to do with Brazil's finance guy quitting because of scandal. And I think he was the one that came up with higher interest rates in banks to control their nation debts. Anyway, this stock should go up as soon as that matter is resolved.

Two things are certain:

1. BBD will continue to make lots of money.
2. Companies with low PE's that make lots of money have stock prices that go up.

[skiracer]

I do think that BBD is experiencing some difficulty relating to breaking news on whatever type of banking an interest related scandal is taking place in Brazil. I also think that it showed pretty good strength today in holding an not selling off further that it did on heavier than average volume. Coming back the way it did was a great sign of support.
NB, I was looking at the daily and weekly charts and since you put the weekly up I took a shot at that one, which I like over the daily for decisions and this type of situation. Regarding the RAFF channels. I think that you might not have extended the channels as far as you should have. I'm suggesting that the channel was not exactly a channel bust but rather a channel long signal on the weekly. I also like the fact that the volume has been diminishing. This stock has been riding the ema 20 day for quite some time and right now it is sitting right on that line. I think that line holds tomorrow as it did today. It's very cheap right now. I bought initially at $38.52 and sold off as it dropped at $38.59. I re-entered at $38.35 and bought more today at $37 which has me averaged down around $37.62. I'm in almost 3 points lower that Ernie and the rest of the gang. I've got to like that. I also think alot of others saw this afternoon as a bargain at $37 range and pushed it back up. I'm holding 2000 shares at $37.62 and looking for at least $41 to sell off the 1st 1000 shares and to let the rest ride up until MM exits. Here's how I see the chart. Those arrows are pointing to the 20 day ema and the channel long signal.

[New-born baby]

Best to ya!

Ski,
You may well be right. Just this one correction: you posted the weekly chart, and so the volume for this week is low since only Monday's action is shown on the weekly volume stick. Actually BBD did 1.5x normal volume today with that gap down on the weekly.

I want everyone to make money off of BBD. The question we are seeking to answer, of course, is the proper entry on this stock. Monday's doji may very well be the signal of a trend reversal; today we will get a confirmation if it is so. I'd guess that one half hour after the open we will know whether or not BBD has bottomed here.

Best to ya, Skiracer! I hope she bounces up hard like MFLX did!

[skiracer]

Ski,
You may well be right. Just this one correction: you posted the weekly chart, and so the volume for this week is low since only Monday's action is shown on the weekly volume stick. Actually BBD did 1.5x normal volume today with that gap down on the weekly.

I want everyone to make money off of BBD. The question we are seeking to answer, of course, is the proper entry on this stock. Monday's doji may very well be the signal of a trend reversal; today we will get a confirmation if it is so. I'd guess that one half hour after the open we will know whether or not BBD has bottomed here.

Best to ya, Skiracer! I hope she bounces up hard like MFLX did!

I read an article on Yahoo Finance this am about the Brazilian Finance minister resigning. Hopefully this will help some being good news on the situation. What I really like right now is the channel long signal on the weekly. That volume yesterday was pretty big and it would have to be called a distribution day but even though it was distribution the OBV and A/D, and Chaiken Money Flow lines held relatively stable which leads me to think that there was also alot of buying going on once it bottomed at $36.93. Today will certainly give us a better indication of what to expect.

[jiesen]

Looks cheap to me now! I'm adding about a third of my initial BBD position here at 35.5.

[Gatorman]

Tempting, very tempting

Jiesen:
We've all done the FA. We've all done the TA. The question now appears to be if the resignation of the Brazilian Finance Minister will stop the slide we have seen.
Am thinking it very well might be and that adding to my position at this level is a very good idea.
Decisions, decisions, decisions!

[mrmarket]

Yawn...I've seen all this before.

[New-born baby]

Afternoon selling

No rally this afternoon. This isn't the bottom.